Washington Post Co. (NYSE:WPO) reported its results for the third quarter. Reported a loss of $6.2 million (82 cents per diluted share) in the quarter. Washington Post Co. had a net income of $60.9 million or $6.84 per share in the year earlier quarter. Revenue fell 13.2% to $1.03 billion from the year earlier quarter. WPO reported adjusted net income of $4.95 per share. By that measure, the company beat the mean estimate of $3.85 per share. It beat the average revenue estimate of $1 billion.
Competitors to Watch: Career Education Corp. (NASDAQ:CECO), The Princeton Review, Inc (NASDAQ:REVU), Apollo Group, Inc. (NASDAQ:APOL), DeVry Inc. (NYSE:DV), Gannett Co., Inc. (NYSE:GCI), Grand Canyon Education Inc (NASDAQ:LOPE), Corinthian Colleges, Inc. (NASDAQ:COCO), National American Univ. Hldgs., Inc. (NASDAQ:NAUH), Strayer Education, Inc. (NASDAQ:STRA), and Bridgepoint Education, Inc. (NYSE:BPI).
The Madison Square Garden Company (NASDAQ:MSG) reported net income above Wall Street’s expectations for the second quarter. Net income for The Madison Square Garden Company rose to $21.3 million (28 cents per share) vs. $19.3 million (25 cents per share) in the same quarter a year earlier. Revenue fell 6.9% to $177.6 million from the year earlier quarter. MSG beat the mean analyst estimate of 8 cents per share. It beat the average revenue estimate of $173.9 million.
President and CEO Hank Ratner said: “We generated solid AOCF growth in the first quarter of our new fiscal year, as we successfully managed our business through the offseason shutdown of The Garden and the Theater at Madison Square Garden. We re-opened The Garden on schedule in late October and are pleased with the progress we have made on all fronts with respect to the Transformation project. We remain focused on our company’s business objectives and are confident in our ability to drive long-term growth.”
Competitors to Watch: Rentrak Corporation (NASDAQ:RENT), Image Entertainment, Inc. (DISK), Discovery Communications Inc. (NASDAQ:DISCA), Odyssey Pictures Corp. (OPIX), Bona Film Group Ltd (NASDAQ:BONA), CBS Corporation (NYSE:CBS), Liberty Media Corp (NASDAQ:LINTA), The Walt Disney Company (NYSE:DIS), and Scorpio East Holdings Ltd. (SEHL).
Cinemark Holdings Inc (NYSE:CNK) reported its results for the third quarter. Net income for the movie production company rose to $46.9 million (41 cents per share) vs. $33.3 million (29 cents per share) in the same quarter a year earlier. This marks a rise of 40.8% from the year earlier quarter. Revenue rose 14.2% to $640 million from the year earlier quarter. CNK fell in line with the mean analyst estimate of 41 cents per share. It beat the average revenue estimate of $617.2 million.
“Cinemark achieved all-time record quarterly performance for the 2011 third quarter, reporting our best-ever quarterly worldwide revenue, attendance and Adjusted EBITDA,” stated Cinemark Holdings, Inc.’s Chief Executive Officer Alan Stock. “The 2011 third quarter was the highest-grossing North American box office period in history, which marks the second quarter in a row that the industry has set a record for box office performance. We are proud to have again extended Cinemark’s box office outperformance streak, as Cinemark’s domestic quarterly box office has now exceeded North American industry box office for twelve consecutive quarters and our international segment admissions revenue again outpaced our industry-leading domestic operations for the thirteenth consecutive quarter on a constant dollar basis.”
Competitors to Watch: Regal Entertainment Group (NYSE:RGC), Carmike Cinemas, Inc. (NASDAQ:CKEC), The Marcus Corporation (NYSE:MCS), Netflix (NASDAQ:NFLX), Amazon.com (NASDAQ:AMZN) and Reading Intl., Inc. (NASDAQ:RDI).